Philips Electronics may be unable to shed its TV operation and will fire 4,500. (Reuters)
Kinder Morgan (NYSE: KMI) to buy El Paso (NYSE: EP) for $21 billion and will save $250 million in the merger. (Reuters)
Olympus falls 24% after its CEO is pushed out and certain questionable payments are revealed. (Reuters)
Samsung to seek a broad ban to sales of the Apple’s (NASDAQ: AAPL) iPhone. (Reuters)
EU officials say they will have a plan in place by October 22 to handle the region’s financial crisis. (WSJ)
Anadarko Petroleum (NYSE: APC) to pay BP (NYSE: BP) $4 billion for issues related to Deepwater Horizon. (WSJ)
Walmart (NYSE: WMT) China CEO to leave as the firm faces strict regulation in the People’s Republic. (WSJ)
The UAW’s largest local approves a deal with Ford (NYSE: F). (WSJ)
U.S. postal workers will hire the former Obama car czar Ron Bloom to help them lose as few jobs as possible in a restructuring. (WSJ)
Realtor.com analysts report that the amount of attractive inventory in the home market has fallen. (WSJ)
The IMF says emerging market nations will not help Europe. (WSJ)
Hulu owners may bring in a new investor as their relationship with the premium website company weakens. (WSJ)
Eastman Kodak (NYSE: EK) licenses some of its patents to Imax (NYSE: IMAX). (WSJ)
Carl Icahn buys a large stake in Navistar International (NYSE: NAV). (WSJ)
Mercer finds that young workers are happier that older ones but also are more likely to leave their companies. (WSJ)
A permanent change in how Wall St. operates could hurt Morgan Stanley (NYSE: MS) and Goldman Sachs (NYSE: GS) earnings for a prolonged period. (WSJ)
Amazon.com (NASDAQ: AMZN) begins to sign authors and cut out publishers. (NYT)
The FCC sets a deal for wireless users to get alerts on minute overages that cost them money. (NYT)
Bids to buy EMI from Citigroup (NYSE: C) have fallen short of expectations. (NYT)
Energy bills in the EU could rise for 20 years. (FT)
The G20 give the EU one week to fix its debt crisis. (Bloomberg)
Bankers may face larger losses as government officials look to them to shoulder more of the costs of a Greek bailout. (Bloomberg)
Samsung files new suits to stop sales of the iPhone in Asia. (Bloomberg)
Douglas A. McIntyre
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